Capital Planning Advisors LLC Takes $607,000 Position in Capital Group Municipal Income ETF $CGMU

Capital Planning Advisors LLC purchased a new position in Capital Group Municipal Income ETF (NYSEARCA:CGMU) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 22,251 shares of the company’s stock, valued at approximately $607,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CGMU. Envestnet Asset Management Inc. grew its stake in shares of Capital Group Municipal Income ETF by 18.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 9,998,302 shares of the company’s stock valued at $272,854,000 after purchasing an additional 1,573,897 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Capital Group Municipal Income ETF by 35.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,977,547 shares of the company’s stock valued at $132,851,000 after buying an additional 1,314,330 shares in the last quarter. Cetera Investment Advisers grew its position in Capital Group Municipal Income ETF by 14.7% in the second quarter. Cetera Investment Advisers now owns 2,954,080 shares of the company’s stock valued at $78,844,000 after acquiring an additional 378,221 shares during the period. Commonwealth Equity Services LLC raised its stake in Capital Group Municipal Income ETF by 3.0% during the third quarter. Commonwealth Equity Services LLC now owns 2,361,585 shares of the company’s stock worth $64,448,000 after acquiring an additional 69,685 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in Capital Group Municipal Income ETF by 36.5% during the second quarter. Osaic Holdings Inc. now owns 2,033,631 shares of the company’s stock worth $54,300,000 after acquiring an additional 543,338 shares in the last quarter.

Capital Group Municipal Income ETF Stock Performance

Shares of NYSEARCA:CGMU opened at $27.82 on Monday. The company’s fifty day moving average is $27.51 and its 200-day moving average is $27.30. Capital Group Municipal Income ETF has a 52 week low of $25.83 and a 52 week high of $27.84.

Capital Group Municipal Income ETF Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 30th were given a $0.0675 dividend. The ex-dividend date was Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 2.9%.

About Capital Group Municipal Income ETF

The Capital Group Municipal Income ETF (CGMU) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed portfolio of US municipal bonds of varying maturities, exempt from regular federal income tax. CGMU was launched on Oct 25, 2022 and is managed by Capital Group.